Torrent Pharma, Glenmark Pharma shares jump up to 9% after Q4 results
Shares of Torrent Pharma and Glenmark Pharma surged post Q4 results. Torrent Pharma's net profit jumped 56% YoY while Glenmark Pharma reported increased losses. Motilal Oswal provides target prices for both companies.
Shares of pharma stocks and rallied nearly 9% to their fresh all-time highs of Rs 2,839.90 and Rs 1,123, respectively after on Monday. posted a 56% year-on-year (YoY) jump in its Q4 while Glenmark Pharma's loss widened to Rs 121 crore on a yearly basis.Torrent Pharma
Torrent's from operations stood at Rs 2,745 crore for Q4FY24 against Rs 2,491 crore in the year-ago period while India revenue was at Rs 1,380 crore, up 10%.
Here's what have to say:
Domestic brokerage firm said Torrent Pharma delivered in-line operational performance for 4QFY24. The subdued show in the US was offset by superior growth in Latin America and ROW markets. The company ended FY24 with 27% YoY , backed by better-than-industry growth in the branded generics segment (73% of total sales) and 190 bp margin expansion.
Motilal Oswal has a 'neutral' rating on the stock with a of Rs 2,575.
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stated that Torrent’s Q4FY24 revenue and margins were slightly below its expectations. Strong performance in Brazil (up 17% YoY), Germany (10.7%) and India (9.8%) continued to lift growth while a revival in US sales is expected in FY25. Price increase (8% in FY24) continues to be the driving factor for growth in India while efforts for boosting volume growth are underway as Torrent plans to add 300-400 MRs in India every year.
ICICI Securities upgraded the stock to a 'buy' with an increased target price of Rs 3,035.
"TRP’s 4QFY24 performance was in line with our expectations led by strength across all markets, excluding the US. Led by price hikes and continued operating leverage across branded and generic segments, we bake in a 220 bps EBITDA margin expansion over FY2024-27E to 33.6%. While TRP mentioned that there is no M&A lined up over the near term, backed by strong FCF generation, we expect domestic acquisitions to always remain on TRP’s anvil," said a report by .
The domestic brokerage firm has maintained a 'reduce' rating on the stock with a target of Rs 2,575.
Glenmark Pharmaceuticals
Glenmark Pharma's increased losses occurred from declining sales in the US market, along with exceptional items.
Here's how domestic brokerage firm Motilal Oswal viewed the Q4 results:
Glenmark’s revenue grew 2% YoY to Rs 3,060 crore, which was slightly below the estimates while adjusting for all, PAT surged 2.5x to Rs 160 crore against Motilal's estimate of Rs 140 crore.
Motilal Oswal will be giving a target price for Glenmark post its conference call.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Here's what have to say:
Domestic brokerage firm said Torrent Pharma delivered in-line operational performance for 4QFY24. The subdued show in the US was offset by superior growth in Latin America and ROW markets. The company ended FY24 with 27% YoY , backed by better-than-industry growth in the branded generics segment (73% of total sales) and 190 bp margin expansion.
Motilal Oswal has a 'neutral' rating on the stock with a of Rs 2,575.
Also read:
stated that Torrent’s Q4FY24 revenue and margins were slightly below its expectations. Strong performance in Brazil (up 17% YoY), Germany (10.7%) and India (9.8%) continued to lift growth while a revival in US sales is expected in FY25. Price increase (8% in FY24) continues to be the driving factor for growth in India while efforts for boosting volume growth are underway as Torrent plans to add 300-400 MRs in India every year.
ICICI Securities upgraded the stock to a 'buy' with an increased target price of Rs 3,035.
"TRP’s 4QFY24 performance was in line with our expectations led by strength across all markets, excluding the US. Led by price hikes and continued operating leverage across branded and generic segments, we bake in a 220 bps EBITDA margin expansion over FY2024-27E to 33.6%. While TRP mentioned that there is no M&A lined up over the near term, backed by strong FCF generation, we expect domestic acquisitions to always remain on TRP’s anvil," said a report by .
The domestic brokerage firm has maintained a 'reduce' rating on the stock with a target of Rs 2,575.
Glenmark Pharmaceuticals
Glenmark Pharma's increased losses occurred from declining sales in the US market, along with exceptional items.
Here's how domestic brokerage firm Motilal Oswal viewed the Q4 results:
Glenmark’s revenue grew 2% YoY to Rs 3,060 crore, which was slightly below the estimates while adjusting for all, PAT surged 2.5x to Rs 160 crore against Motilal's estimate of Rs 140 crore.
Motilal Oswal will be giving a target price for Glenmark post its conference call.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Source: Stocks-Markets-Economic Times
